My dad is in Punjab, India and I am overseas. He is in 90′s and his memory is starting to fail. He needs me and my sister to manage his affairs , property, bank accounts. What is the best thing to do and will getting power attorney ward off any attempt by relatives to snatch any assets from him. Will the power of attorney hold in court if any disputes arises ? How about if he has to sell any assets, will it be a problem if I sell it after the power of attorney is issued. Should it be special power of attorney or general power of attorney ?
He can sign a General Power of Attorney appointing you as his agent to deal with his assets. his is particularly vulnerable, as you say he is in his 90s as the death of the principal (in this case your father) invalidates your right as his agent.
If you want to manage his assets , its advisable to go for a settlement deed in your and your sister’s names and settle the issue. If you want to sell it , take a power of attorney and get down to the job of selling it at once.
all the best.
